Waterbury, CT Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Waterbury, CT Housing Market Trends

With 107,568 people, 40,937 houses or apartments, and a median cost of homes of $173,166, house prices in Waterbury are solidly below the national average.

Single-family detached homes are the single most common housing type in Waterbury, accounting for 36.84% of the city's housing units. Other types of housing that are prevalent in Waterbury include duplexes, homes converted to apartments or other small apartment buildings ( 31.96%), large apartment complexes or high rise apartments ( 28.10%), and a few row houses and other attached homes ( 2.91%).

People in Waterbury primarily live in small (one, two or no bedroom) single-family detached homes. Waterbury has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waterbury's housing was primarily built during this period, from the '40s through the '60s. A full 32.84% of the city's housing hails from this era. Other housing ages represented in Waterbury include homes built before 1939 ( 31.86%) and housing constructed between 1970-1999 ( 31.70%). There's also some housing in Waterbury built between 2000 and later ( 3.60%).

Vacant housing appears to be an issue in Waterbury. Fully 14.41% of the housing stock is classified as vacant. Left unchecked, vacant Waterbury homes and apartments can be a drag on the real estate market, holding Waterbury real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Waterbury Home Appreciation Rates

Waterbury's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Waterbury during the period has been just 2.54%, which is lower than 70% of US communities.

Appreciation rates are so strong in Waterbury that despite a nationwide downturn in the housing market, Waterbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waterbury appreciation rates continue to be some of the highest in America, at 16.23%, which is higher than appreciation rates in 97.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waterbury. Waterbury appreciation rates in the latest quarter were at 3.93%, which equates to an annual appreciation rate of 16.65%.

Importantly, this makes Waterbury one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Connecticut, our data show that Waterbury's latest annual appreciation rate is higher than 90% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Waterbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waterbury - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Waterbury real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$173,166

Waterbury, CT HOME PRICES

> $1,337,000
0.4%
0.4%
$1,002,001 - $1,337,000
0.0%
0.0%
$669,001 - $1,002,000
0.5%
0.5%
$535,001 - $669,000
0.8%
0.8%
$401,001 - $535,000
2.7%
2.7%
$267,001 - $401,000
10.5%
10.5%
$134,001 - $267,000
56.5%
56.5%
$67,001 - $134,000
23.8%
23.8%
$0 - $67,000
4.8%
4.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for CT

Value Relative To Nation

Number Of Homes And Apartments:
40,937

Waterbury Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
50.42% 1.92%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,537 / per month

Homeownership Rate

Owners
40.6%
40.6%
Renters
59.4%
59.4%
Vacant
14.4%
14.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.6%
3.6%
1970 - 1999
31.7%
31.7%
1940 - 1969
32.8%
32.8%
1939 or Older
31.9%
31.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
36.8%
36.8%
Townhomes
2.9%
2.9%
Small Apt. Buildings
32.0%
32.0%
Apt. Complexes
28.1%
28.1%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.2%
3.2%
1 Bedroom
14.3%
14.3%
2 Bedrooms
38.7%
38.7%
3 Bedrooms
35.2%
35.2%
4 Bedrooms
6.9%
6.9%
5 or more bedrooms
1.6%
1.6%
0.0% 100.0%
% OF HOMES